The Bicycle Frames Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Bicycle Frames Global Market Report 2024, The bicycle frames market size has grown rapidly in recent years. It will grow from $30.81 billion in 2023 to $34.62 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth in the historic period can be attributed to material evolution, shift in frame design trends, influence of mountain biking, emergence of road racing, market shift towards lightweight frames.
The bicycle frames market size is expected to see rapid growth in the next few years. It will grow to $56.05 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to innovations in frame geometry and aerodynamics, sustainability and environmental considerations, urban mobility solutions, integration of suspension and component. Major trends in the forecast period include carbon fiber dominance, innovative frame designs, rise in electric bicycles (e-bikes), material diversification, customization and personalization.
The increase in use of bicycles is expected to propel the growth of the bicycle frames market going forward. Bicycles refer to a vehicle with two wheels in tandem, handlebars for steering, a saddle seat, and pedals by which it is propelled. The improvements in social infrastructure in developing countries have encouraged people to opt for cycling as a transportation medium. The increasing demand for bicycles also increases the demand for bicycle frames. For instance, in 2021, according to CBC News, a Canada-based news broadcast media has mentioned an increase in bicycles by 75%. Therefore, the increasing use of bicycles is driving the growth of the bicycle frames market.
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The bicycle frames market covered in this report is segmented –
1) By Type: Mountain, Hybrid, Road, Other Types
2) By Material: Aluminum, Steel, Carbon Fiber, Titanium, Other Materials
3) By Distribution Channel: Online, Offline
Major companies operating in the bicycle frames market are focusing on strategic collaboration, to provide reliable services to customers. Strategic collaboration refers to a mutually beneficial partnership between two or more independent entities who work together to achieve shared goals aligned with their individual strategic objectives. For instance, in January 2023, Fujitsu Limited, a Japan-based company partnered with Teijin Limited, a Japan-based Chemicals company. With this partnership, Fujitsu Limited, aims to provide joint trials with V Frames and Advanced Bikes to enhance the environmental value of recycled carbon fiber used in the manufacturing process of bicycle frames. It also reduces greenhouse gas (GHG) emissions in its production process by promoting the use of recycled materials.
The bicycle frames market report table of contents includes:
1. Executive Summary
2.Bicycle Frames Market Characteristics
3.Bicycle Frames Market Trends And Strategies
4.Bicycle Frames Market analysis
5.Bicycle Frames Market Size And Growth
6.Bicycle Frames Segmentation
7.Bicycle Frames Regional And Country Analysis
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27. Bicycle Frames Competitive Landscape And Company Profiles
28. Bicycle Frames Key Mergers And Acquisitions
29. Bicycle Frames Future Outlook and Potential Analysis
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